Every year the NAR (National Association of Realtors) publishes a yearly report that covers the demographics, preferences, and experience of buyers and sellers.
Here are some findings in the 2015 home seller survey:
- The typical home seller is 54 years,with median household income of $104,000.
- For all sellers, most common reason for selling their home was that it was too small (16%), followed by job relocation (14%), and the desire to move closer to friends and family (13%).
- Sellers typically lived in their home for 9 years before selling, declining from 10 years in 2014.
- The final sales price was a median 98% of the final listing price.
- Recently sold homes were on the market for a median of 4 weeks.
- 37% of all sellers offered incentives to attract buyers.
- Home sellers cited that they sold their homes for a median of $40,000 more than they purchased.
- 61% of sellers were very satisfied with the selling process.
- 2015 Profile of Home Buyers and Sellers Highlights
All real estate is local and most neighborhoods in Philly are in a sellers market so the best incentive for a buyer is a house that is priced right and in great shape.
CONTACT US FOR A HASSLE-FREE LISTING CONSULTATION